ETF Funds Halted… XRP Bearish Signal Clear

▲ XRP ETF / ChatGPT Generated Image ©

As XRP (Ripple) falls below $1.40, strengthening its bearish trend, an analysis suggests that weakening investor sentiment and slowing ETF inflows are increasing further downward pressure.

According to FXStreet, an investment media outlet, on April 28 (local time), XRP is continuing its short-term downtrend, falling below $1.40 after being blocked by $1.45 resistance. Amid increased volatility in the overall cryptocurrency market, selling pressure has expanded, making it difficult to defend key support levels.

Middle East risks have been identified as a key variable weighing on investor sentiment. As the Strait of Hormuz blockade continues and the conflict between the US and Iran persists, risk-aversion sentiment has strengthened, and the Crypto Fear & Greed Index plummeted from 47 to 33 in just one day. The overall market's risk-aversion trend is directly linked to XRP's weakness.

Institutional fund flows are also showing signs of slowing down. According to SoSoValue data, the XRP spot ETF recorded a stagnant state with no fund inflows or outflows for the past day. Cumulative inflows remained at $1.29 billion, and assets under management were approximately $1.06 billion. Individual investor demand also remains at $2.57 billion in open interest, but this is significantly lower than the past peak of $10.94 billion, indicating a lack of confidence in an uptrend.

Technically, bearish signals are also clear. XRP is trading below the Bollinger Band centerline of $1.40 and the 50-day exponential moving average of $1.41, maintaining a downward advantage. The Relative Strength Index (RSI) remains below the neutral line at 47, and the Moving Average Convergence Divergence (MACD) has also fallen below the 0 line, indicating weakening upward momentum.

In the short term, the $1.40-$1.41 range acts as the first resistance, with stepped resistance formed at $1.48, $1.53, and $1.75 upon rebound. Conversely, on the downside, $1.32 is a key support level, and if this level breaks, the downtrend is likely to expand on a daily basis. FXStreet evaluates the current structure as a “typical bearish zone with weakened momentum,” leaving open the possibility of further declines.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*